The bright yellow and black striped trading jacket is a replica of the one Leeson wore when he was a broker at Barings Bank. It is being offered with an estimate of £200-300 at John Pye Auctions’ online memorabilia sale on July 6.
The former derivatives broker’s fraudulent and unauthorised speculative trading led to the collapse of Barings. He had set up a secret account to cover his trading losses and, when it was finally discovered, the losses had reached $1.3bn. Barings management had to inform the Bank of England that the 233-year-old investment bank was effectively bust.
He was arrested in 1995 and served five years in prison.
Following release, Leeson’s book was made into the film Rogue Trader starring Ewan McGregor. Leeson is now a consultant and a conference and after-dinner speaker.
John Pye Auctions is based at Marchington in Staffordshire and this auction is held online, ending 12pm July 6. The catalogue is available online from on June 30.
